FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2017053655601 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Cowen and Company LLC, Respondent Broker-Dealer CRD No. 7616 Pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure, Respondent Cowen and Company LLC (the “firm”) submits this Letter of Acceptance, Waiver and Consent (“AWC”) for the purpose of proposing a settlement of the alleged rule violations described below.

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2019064747001 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Patricia Anne Merrick, Respondent Former Associated Person CRD No. 2441292 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent Patricia Anne Merrick ("Merrick") submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.